MPC's most recent consumer survey report investigates the perceptions of first-time buyers in Canada.
The report concentrates on first-timers, those aged 23 to 54, primarily renters or new owners. To help determine the average stress level associated with home buying, the survey asked respondents to compare their buying considerations to other big-life decisions. Recent mortgage qualifications rules, and specifically the stress tests, are adding to stress levels and making buying more difficult.
The report also examines Canadians’ reaction to the newly announced First-Time Home Buyers Incentive plan and compares responses to sentiments around reintroduction of a 30-year amortization.
Read the full report here.